American Century Companies Inc. bought a new stake in BrightSphere Investment Group Inc. (NYSE:BSIG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 71,441 shares of the company’s stock, valued at approximately $1,674,000. American Century Companies Inc. owned about 0.09% of BrightSphere Investment Group as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BSIG. Point72 Hong Kong Ltd increased its stake in BrightSphere Investment Group by 59.0% during the first quarter. Point72 Hong Kong Ltd now owns 1,590 shares of the company’s stock worth $32,000 after purchasing an additional 590 shares during the period. Lazard Asset Management LLC acquired a new position in shares of BrightSphere Investment Group in the first quarter valued at approximately $38,000. Mutual of America Capital Management LLC increased its stake in BrightSphere Investment Group by 6.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 7,953 shares of the company’s stock worth $162,000 after buying an additional 452 shares during the period. Teacher Retirement System of Texas acquired a new stake in BrightSphere Investment Group during the 2nd quarter worth approximately $203,000. Finally, SG Americas Securities LLC boosted its position in BrightSphere Investment Group by 107.5% in the 1st quarter. SG Americas Securities LLC now owns 11,205 shares of the company’s stock valued at $228,000 after buying an additional 5,804 shares during the period. 98.70% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on BSIG shares. Evercore ISI reaffirmed a “hold” rating and set a $26.00 price objective on shares of BrightSphere Investment Group in a research report on Friday, August 6th. Morgan Stanley upped their price target on BrightSphere Investment Group from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, July 30th. TheStreet upgraded BrightSphere Investment Group from a “c” rating to a “b” rating in a research note on Thursday, July 29th. Finally, Zacks Investment Research lowered shares of BrightSphere Investment Group from a “hold” rating to a “sell” rating in a research note on Monday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, BrightSphere Investment Group has an average rating of “Hold” and an average target price of $25.08.
BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Wednesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $133.30 million for the quarter. BrightSphere Investment Group had a return on equity of 29.50% and a net margin of 127.04%. Equities analysts anticipate that BrightSphere Investment Group Inc. will post 1.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 10th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. BrightSphere Investment Group’s payout ratio is currently 2.29%.
About BrightSphere Investment Group
BrightSphere Investment Group, Inc is a holding company, which engages in the provision of asset management services. It also focuses on the development of new business opportunities in domestic and international markets. The firm operates through the following segments: Quant & Solutions, Alternatives and Liquid Alpha.
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